Heya babes! Today I am sharing about that dreaded “B Word”… Budget. WHOA WHOA, what word did you think I meant!? Ok, just kidding. BUT, for real. How many of us hate the word “budget?” I used to hate talking about the budget, money, or anything of the sort because I just didn’t want to know. This was, of course, no help to my husband who was trying to keep us on track.
For 2019, the word that Paul felt on his heart for our family was “margin.” We felt this was for our time, family, and money. I am sharing today 3 things we use that has brought margin for our family’s finances with the hopes it will do the same for you.
- I took over the budget. We decided to do this for a couple reasons- one of them being to make me feel the weight of our money. And now that I have… I ain’t going to lie… I freaking love it. Like, neither of us want to go back to Paul doing it. It’s become a GAME to me. I love running our budget. I love knowing how much value even $5 spent here and there is, and how quickly it adds up and cuts into our margin. I literally look at my budget spreadsheet every.single.day. I legit asked Paul today as I left the house, “Hey babe, can you make sure lights are off when you leave? The electricity bill was high last month.” LOL. WHO AM I?! I encourage you, if you don’t know your family’s budget or are like how I used to be (“I just don’t wanna know”), then I would seriously consider running your budget even just a one month commitment with your spouse. This will help you both!
- Twine App. Paul started using Twine as our external savings account. We found it way too easy to “steal” from our savings when it was in our bank account. If we really wanted to establish margin, we needed to remove that savings account from our grasp altogether. We send money over every month and it is accruing interest like a true Savings Account. It helps you set goals, too! It’s so great.
- Robin Hood/Stocks. You guys, this one has been a game changer for us. Like, life-changing. As part of his mission to create margin for our family, Paul began educating himself on stocks. We have some big goals to pay off everything but our mortgage as quickly as possible (cars, school, etc.), and this has been HUGE for us. We are talking a side income for our family FROM STOCKS. Robin Hood helps manage your stock investments easily and is linked to your bank. We have a healthy number in there we keep for daily investments, and Paul sends the surplus he’s made that week to our bank. He has really figured out a system that’s almost fool-proof. However, we don’t budget this profit into our monthly budget just in case there’s a low week or month. I assess what we made and allocate the earnings accordingly toward debt. As of now, Robin Hood is our debt payer and it’s been such a blessing!
Whether you do these exact steps, or you figure out something else that works for you, I hope you know you CAN create margin with your budget. It takes getting everybody (yes YOU!) on board with unified goals. You can do this, y’all!! You can spend and save wisely, and steward your money well. We are cheering you on!